That’s what Frank Evans ASA, CBA CPA/ABV (Evans and Associates, LLC in Sharon, PA) believes when it comes to opportunities that Appraisers' overlook. While teaching a workshop at the Institute of Business Appraisers' 2008 Symposium last week in Chicago, Evans said appraisers miss valuable consulting opportunities when we “merely work on a valuation engagement without getting to know the owner(s), finding out their goals, and helping them achieve those goals.” Appraisers have a vast amount of business and financial knowledge upon which private company owners can capitalize. “We can use this knowledge to help them build, protect and harvest owner wealth.” The problem is that many appraisers stop after the value conclusion when they could also help with value management and enhancement.
By asking questions, the appraiser is selling themself and their knowledge. Many small, private company owners fail to think about and plan for the financial and non-financial goals associated with their business—this is where the appraiser’s knowledge can help. This type of consulting work accounted for 40% of Evans’ firm’s revenues last year—and could also open new doors for your practice. Remember: listen and ask questions.
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